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Saturday, April 17, 2021

Futures Bounce Back as Bond Yields Settle

US futures and European markets saw an upturn Monday morning as fears over rising bond yields began to fall.

Dow Futures saw an increase of nearly 1%, up 300 points to $31,206. S&P 500 Futures are also up this morning by 38.05 to $3,847.25 (+1%) with Nasdaq-100 Futures following the trend, up 146 to $13,057.00 (+1.15%).

The Stoxx 600 Europe rallies today, up 5.07 points to 410.06 (+1.25%). London’s FTSE 100 is up 88.21 points to 6,571.67 (+1.36%), signaling that European markets will follow suit with their American counterparts.

Asian markets saw gains as well, with Shanghai’s Composite Index (SHCOMP) up 42.32 points to 3,551.40 (+1.21%). Hong Kong’s Hang Sang Index (HSI) closed the day up 472.36 points to 29,452.57 (+1.63%) with Japan’s Nikkei seeing a massive spike of 697.49 points to 29,663.50 (+2.41%).

Investors believe this turn in the market is in response to US 10-year Treasury bond yields falling to 1.445%, down from 1.55% earlier in the week. Tech stocks were hit particularly hard from the rising yield rates, with the Nasdaq composite seeing a 5% hit last week.

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